1) When you look at a spot now on the Web site, there's no mention of who created the site, who founded it, and the timeline has nothing about the items dropped or picked up at the site. Founders and items are, in a nutshell, the key differentiator of Gowalla. But now it's like they're trying to completely minimize the role of virtual objects; there's no mention of them anywhere except at the bottom right of your own profile.
2) The home page tells me nothing about where I've been, just where my friends have been. This also is a big problem -- I use Gowalla to track both, and so do most people I know.
3) Search is broken -- returning no results. It's a new launch, but come on. These failures in QA, given that this service has so much privacy at stake, is awful.
4) The Feedback tab is removed -- it was a great little feature.

“Almost every American I know does trade large portions of his life for entertainment, hour by weeknight hour, binge by Saturday binge, Facebook check by Facebook check. I’m one of them. In the course of writing this I’ve watched all 13 episodes of House of Cards and who knows how many more West Wing episodes, and I’ve spent any number of blurred hours falling down internet rabbit holes. All instead of reading, or writing, or working, or spending real time with people I love.”

“Live a good life. If there are gods and they are just, then they will not care how devout you have been, but will welcome you based on the virtues you have lived by. If there are gods, but unjust, then you should not want to worship them. If there are no gods, then you will be gone, but will have lived a noble life that will live on in the memories of your loved ones.”

You can scroll right easily by holding down the SHIFT key and using your scroll wheel. (Firefox users trying this will end up jumping to old Web pages until a) Firefox releases a fix, b) they change their settings like so.)